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Afreximbank to Support in Sub-Sovereign Governments Investments in Africa

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Zanamwe

Mr. Zanamwe presented a series of instruments and products developed by Afreximbank to assist sub-sovereign governments in identifying business and trade opportunities

KISUMU, Kenya, June 10, 2023/APO Group/ — 

The hosting of the 29th session of the Executive Committee of the United Cities and Local Governments of Africa (http://www.UCLGA.org) at Ciala Resorts in Kisumu, Kenya, offered the opportunity to organize a workshop on June 2nd, 2023 for the African Export-Import Bank (Afreximbank) to address the leaders of Subnational and local governments of Africa.

The workshop was organized at the initiative of Kisumu County Government in partnership with UCLG Africa and Afreximbank. Were in attendance leaders of subnational and local governments, including the governors and deputy governors of the Lake Region Economic Bloc, the members of the UCLG Africa Executive Committee and Secretariat, and the officials and officers of Kisumu County government.

The Governor of Kisumu, Prof. Peter Anyang’ Nyongo’o highlighted the importance of the creation of this initiative. “We appreciated the possibility of the Afreximbank coming on board to support subnational governments. The leadership of UCLG Africa have for long time battled on this, and hence set up the the Africa Territorial Trade and Investment Agency (ATIA). This contributes to this opportunity today that we welcome to this platform Afreximbank. Together we believe Africa will be develop”, he said. 

“Every development is local. It means that, if you want to grow, you start locally. We created ATIA, because we wanted that Subnational Local Governments of Africa participated  in the realization of the African Continental Free Trade Area (AfCFTA). UCLG Africa signed a Memorandum of Understanding (MoU) with Afeximbank to improve the level of investments at the sub-sovereign level of governance have investments brought by the bank or to convince people with investments to get in to our Subnational Local Governments Network. So that this become a changing agents for the development of this continent”, said Mr. Jean Pierre Elong Mbassi, Secretary General of UCLG Africa. 

Notice that the MoU signed between Afreximbank and UCLG Africa, contains a detailed Implementation Plan that will ensure the ideals of the collaboration to improve the governance and economic conditions of Sub-Sovereign Governments are achieved and that a Data Management System is developed to boost economic development in African Regions.  

Dr. Gainmore Zanamwe, Acting Director, Intra-African Trade Bank, made a presentation of key Afreximbank financing products of interest for Sub-Sovereign Governments. “We want to work with you to help you to build your development projects. And for those who have already launched their projects, we can support you to find investors. Because we do believe that, business is actually done at the subnational level”, he explained.  

Mr. Zanamwe presented a series of instruments and products developed by Afreximbank to assist sub-sovereign governments in identifying business and trade opportunities and supporting the design of a portfolio of bankable projects that would participate in changing the sustainable development trajectory of sub sovereign governments in Africa.  

Among these instruments and products Mr. Zanamwe highlighted the following:

–Afreximbank Project Preparation Facility (APPF) : A key instrument through which the Bank supports the development of projects from conceptualization to a stage of their bankability in order to attract the attention of investors;

The leadership of UCLG Africa have for long time battled on this, and hence set up the the Africa Territorial Trade and Investment Agency (ATIA)

–African Continental Free Trade Area (AfCFTA) Adjustment Fund: The Fund supports African countries and the private sector to effectively participate in the new trading environment established under the AfCFTA.

–Transit Guarantee Scheme: That facilitates the movement of goods within the Regional Economic Communities (RECs) or throughout the continent using a single technology that enables continental bonds to promote intra-African trade under the AfCFTA

–Industrial Parks and Special Economic Zones, to facilitate the emergence and expansion of Industrial Parks (IPs) and Export Processing Zones (EPZs), focusing on light manufacturing and agro-processing. 

–Export Trading Companies: address institutional market failure by providing market intelligence, aggregating products, finding markets and assisting manufacturers, SMEs and informal cross-border traders to participate in international trade. 

–The Africa Trade Gateway : Internet Platform dedicated to African International Trade at Africa.

-Intra-African Investment Finance: focus on financing promotion of Foreign Direct Investment or African Direct Investment. It supports setting up and/or expansion of businesses by an entity from one African country in another African country

–Intra-African Investment Guarantee : which purpose is to protect investors against risk events that may impair their investment rights or earnings

–Contracting Related Guarantees: To reissue a wide range of specialized guarantees (i.e. bid bonds, performance bonds, advance payment guarantees and retention bonds) issued by FIs to African construction/contracting companies to conduct construction services in other African countries.

Participants expressed interest to receive support for Afreximbank to write banckable projects and to be get access to investors. During the very lively debate that followed Afreximbank’s presentation, Mr. George Mwanza, Mayor of Chapati City (Zambia) and vice-President of the Network of African Young Elected Local Officials (YELO), advocated for a « strong involvement of Youth and Women in the financings of projects, but only through UCLG Africa, as delivery and implementing partner of Afreximbank ». 

After having commented and responded to questions raised during the debate, M. Zanamwe extended an invitation to the workshop attendees to participate in the Intra-African Trade Fair (IATF 2023), to be held in Cairo, Egypt from 9 to 15 November 2023.  

After the historic success of Africities 9, held in Kisumu, in May 2022, summit that welcomed 13 000 participants, a new milestone will be the organization of the Kisumu Investment Forum to be held in October 2023 as the result of the ongoing study on Local Economic Development  of the Kisumu County co-organized by the Kisumu County government, Afreximbank, and UCLG Africa. 

Distributed by APO Group on behalf of United Cities and Local Governments of Africa (UCLG Africa).

Business

5 Investment Opportunities Putting Congo Energy & Investment Forum (CEIF) 2027 on the Map for Central Africa

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CEIF 2027 connects investors with Congo’s energy projects and local partners, while providing entry points for commercial opportunities across Central Africa

BRAZZAVILLE, Republic of the Congo, November 2, 2026/APO Group/ –The Republic of Congo’s expanding oil and gas developments are creating new opportunities for investment, engineering contracts and commercial partnerships across the energy value chain. With offshore discoveries, mature-field redevelopment and three million tons per year of LNG capacity, the country is entering a new phase of energy development that requires capital, technology and international partnerships.

 




 
 

The Congo Energy & Investment Forum (CEIF) 2027, taking place June 1-3 in Brazzaville, will serve as the official platform connecting Central African energy decision-makers, operators, investors and service companies. Organized by Energy Capital & Power in collaboration with the Ministry of Hydrocarbons, the forum will bring together public- and private-sector stakeholders to advance investment discussions, facilitate partnerships and connect companies with emerging opportunities across the region.

Connect With Central Africa’s Energy Decision-Makers

CEIF 2027 will provide a platform to engage directly with Congolese authorities, regulators, national energy companies and policymakers shaping the region’s energy investment landscape. Taking place in partnership with the Ministry of Hydrocarbons, the event offers a bridge between the country’s policymakers and public- and private-sector companies. Conversations with decision-makers can help investors understand national development priorities, gain insight into the regulatory environment and identify opportunities for market entry or expansion.

Capitalize on Congo’s Upstream Investment and Production Ambitions

As Congo targets production growth toward 500,000 barrels per day, operators are pursuing new exploration and mature-field redevelopment to increase output. TotalEnergies’ 2026 Moho G discovery could unlock an estimated 100 million barrels of recoverable resources alongside the existing Moho F development, illustrating the potential to connect new discoveries to established offshore infrastructure. Meanwhile, Perenco and Trident Energy are pursuing development and redevelopment opportunities across mature assets, including well reactivation and infrastructure upgrades.

These activities could create opportunities for drilling contractors, engineering firms and production technology providers. CEIF 2027 offers a platform to explore project requirements and investment opportunities across Congo’s upstream sector.

Unlock Opportunities Across LNG, Gas and Power Infrastructure

With LNG exports established and liquefaction capacity reaching three million tons per year in 2026, Congo is looking towards its next phase of gas development. This will depend on sustaining feedgas supplies, connecting additional resources and expanding infrastructure.

Beyond LNG, Congo’s plans to expand electricity generation and improve transmission and distribution infrastructure present opportunities for power developers, equipment suppliers and investors. These priorities create potential opportunities for upstream operators, engineering companies, technology providers and investors interested in gas processing, power generation and distribution. CEIF provides a platform to advance these priorities.

Showcase Solutions and Build Commercial Partnerships at the Exhibition

The CEIF 2027 exhibition will provide a platform for companies to showcase their technologies, equipment and services directly to energy operators, policymakers, investors and potential clients across Central Africa.

Exhibitors will have opportunities to demonstrate solutions, engage with local service providers and identify potential partnerships across drilling, engineering, infrastructure and energy technology. For companies seeking to enter or expand in the region, the exhibition offers a direct route to building commercial relationships, exploring procurement opportunities and positioning their services for upcoming projects.

Access New Projects and Financing Opportunities

Turning project opportunities into investments requires clarity on development priorities, infrastructure requirements and financing structures. CEIF’s discussions will give participants an opportunity to assess the projects shaping Congo’s energy sector and engage with potential commercial and institutional counterparts.

Investors, lenders and project developers can use these exchanges to identify areas where financing, technical expertise or new investment structures may help advance projects across oil and gas, power generation and downstream industries.

Organized by Energy Capital & Power in collaboration with the Ministry of Hydrocarbons, CEIF 2027 will enable candid dialogue, facilitating new investments and deals in the country’s energy sector. For more information, visit www.congoenergyinvestment.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 




 

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Afreximbank supports Veenocks’ US$145 million project for industrial expansion and regional growth

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Afreximbank

PPF-funded studies enabled Veenocks to broaden its medium-term regional growth plans, while a US$81.9 million senior loan supports an expansion expected to triple annual production capacity

CAIRO, Egypt, November 2, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has supported the development and expansion of Veenocks Limited’s porcelain tile manufacturing plant in Sagamu, Ogun State, Nigeria, through its Project Preparation Facility (PPF) and a US$81.9 million senior term loan. The project has a total estimated cost of US$145 million.
 




 

Afreximbank and Veenocks signed a US$2 million project preparation facility agreement in August 2024 to finance technical, commercial, financial, legal, environmental and social studies needed to establish the project’s bankability.

The studies financed through the PPF, complemented by Afreximbank’s pan-African experience, enabled Veenocks to broaden its growth ambitions beyond its primary focus on the Nigerian market. This support informed the company’s plans to pursue regional opportunities over the medium term, with target markets including Togo, Benin, Burkina Faso, Niger, Cameroon, Ghana, Mauritania and Senegal.

The Bank’s US$81.9 million senior term loan supports implementation of the plant’s expansion, providing financing for investment in additional manufacturing capacity. The expansion is expected to increase the plant’s total annual production capacity from 3.3 million to 9.9 million square metres, creating a stronger production base to meet domestic demand and pursue regional opportunities.

Veenocks demonstrates how project preparation, commercial expertise and senior debt financing can support African industrial investment

The existing plant employs more than 200 people directly. The expansion is expected to create an additional 300 direct jobs, alongside indirect employment across raw material supply, logistics and distribution.

The preparation financing has been fully repaid from senior debt, completing the PPF’s funding cycle for Veenocks and replenishing capital to support further projects.

Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, Afreximbank, said:

“Veenocks demonstrates how project preparation, commercial expertise and senior debt financing can support African industrial investment. The studies financed through Afreximbank’s Project Preparation Facility have helped strengthen the project’s bankability and broaden the company’s regional growth ambitions. Our senior debt financing supports the plant expansion needed to convert those ambitions into increased productive capacity, and stronger foundations for intra-African trade.”

Mrs. Awani added: “Full repayment of the preparation financing ensures capital is available to support more indigenous African investors and projects. This is the PPF’s revolving model in practice: the funds that have been repaid are used to support initiatives that add value to local resources and expand manufacturing.”

Mr. Adebisi Abidemi Adebutu, Group President of R28 Holdings, the parent company of Veenocks Limited, said:

“This investment represents an important step towards our ambition of building a globally competitive manufacturing business in Nigeria, producing world-class tiles to European quality standards and reducing Nigeria’s dependence on imported tiles. The PPF was instrumental in broadening our growth plans and positioning us to penetrate regional markets over the medium term. With Afreximbank’s financing, we can now deliver the expansion phase of this project. The facility will allow us to add value to Nigeria’s raw materials, create quality jobs and increase the supply of our porcelain tiles, manufactured here in Nigeria, to customers at home and across the region. Our vision is to set the global benchmark for quality in tile manufacturing and to become Africa’s first choice for porcelain tiles.”

Distributed by APO Group on behalf of Afreximbank.

 




 

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Energy

Energy costs, storage value and industrial competitiveness led Day 2 of C&I Energy + Storage Summit

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Energy

Energy security, industrial competitiveness and infrastructure readiness emerged as closely connected priorities, with discussions highlighting what businesses need to turn investment plans into operational gains

JOHANNESBURG, South Africa, November 2, 2026/APO Group/ –How can South African businesses turn energy investment into lower operating costs, stronger resilience and long-term competitiveness? This question drove the second day of VUKA Group’s (https://WeAreVUKA.com/) C&I Energy + Storage Summit in Johannesburg, with discussions examining the commercial value of storage, industrial energy strategies and the infrastructure needed to support Africa’s growing digital economy.

 




  

The programme brought together business leaders, energy specialists, financiers and public-sector representatives to address practical decisions facing commercial and industrial users, alongside the EIUG Conference, Water Security Africa and Data Centre Summit.

Energy security, industrial competitiveness and infrastructure readiness emerged as closely connected priorities, with discussions highlighting what businesses need to turn investment plans into operational gains.

Energy storage featured prominently, with panellists examining how tariff optimisation, peak shaving and renewable energy integration can strengthen its value beyond backup power. The investment case, however, needs to account for battery degradation, warranties and operational risk.

Addressing the attendees, Junaid Munshi, Group Executive: Distribution for Eskom told the audience: “For an industrial business, solar and storage can improve the energy cost position. But the opportunity extends beyond the customer’s electricity bill. Where network capacity is constrained, coordinated battery use may relieve pressure on the infrastructure serving that business and, where proven technically dependable, could defer or reduce grid investment. The asset behind your meter can therefore also become a resource beyond it.”

The asset behind your meter can therefore also become a resource beyond it

The EIUG session “Industrialisation under threat?” put changing electricity consumption under scrutiny, asking whether lower demand reflected efficiency gains or weakening industrial output. Tariffs, investment conditions and industrial growth remained central to the discussion, highlighting the need to assess energy trends against the health of the wider economy.

At the Data Centre Summit, Africa’s AI ambitions brought power availability and infrastructure readiness into focus. Discussions on grid access, wheeling and network investment highlighted the importance of planning digital growth alongside the electricity infrastructure needed to sustain it.

For businesses developing energy projects, public-private engagement sessions explored infrastructure co-investment, municipal coordination and workable wheeling agreements.

Water Security Africa reinforced the wider resource-security challenge through industrial resilience case studies, digital water technologies and lessons from case studies.

Across the discussions, the practical message was consistent: competitive businesses need more than access to technology and capital. They also need reliable infrastructure, workable commercial arrangements and coordinated delivery.

The afternoon programme translated these themes into business decisions. “The C&I energy playbook” drew together insights from across the summit, while the closing “decision clinic” addressed real project challenges, from choosing between onsite solar and wheeled power to sizing batteries and preparing projects for financing. Experts from DBSA, Standard Bank, SustainableDNA and the City of Tshwane contributed practical guidance.

Download the programme to review the full Day 2 agenda and participating speakers: https://apo-opa.co/4eEKq9a

Distributed by APO Group on behalf of VUKA Group.

 




 

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